Inflation
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Lessons from Argentina’s Dollarization Debate: The Challenge of the Commitment Device
“If a large country like Argentina were to fare better under dollarization, economists would be forced to reconsider the role of central banks in monetary theory.” ~Nicolas Cachanosky
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The West Should Strengthen Ties with Argentina’s New President Javier Milei
Argentina just elected Javier Milei, a boisterous, wild-haired economist with a pro-market agenda to transform the nation’s economy. After decades of Peronist rule, Argentina is now home to the first libertarian head of state in modern history, a feat that many in the media seem to miss. Even before the official results were announced, voters…
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Why Ordinary People Enable Totalitarians, Part 1
“After the First World War in Germany, peace came with hyperinflation, which obliterated all wealth. The bonds of civilization fray during hyperinflation.” ~Barry Brownstein
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Argentina’s Rampant Inflation, Explained (in One Chart)
“Whichever definition one prefers to use — an expansion of the money supply which leads to price increases, or a broad and sustained increase in consumer prices — inflation is caused by the governments and central banks who control the money supply.” ~Jon Miltimore
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Business Conditions Monthly October 2023
“While we continue to impartially and vigilantly assess incoming data, our current analysis still points to a recession occurring before September 2024 as the most probable scenario.” ~Peter C. Earle
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Disinflation Dream Come True
“The Fed will probably keep the fed funds target range unchanged in December. Officials previously signaled additional tightening, but things have changed.” ~Alexander W. Salter
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Argentina Agonistes: The Separation of Money and State
“The Argentine peso has lost 93 percent of its value in just the past 4 years. Anyone who could carry out transactions using dollars always did so; holding pesos was little different from simply setting your wealth on fire.” ~Michael Munger
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Hyperinflation and Dollarization: A Path to Economic Stability for Argentina
“The risk of hyperinflation in Argentina does not arise from the intention to dollarize but from a central bank that appears incapable or unwilling to exercise restraint. Argentina’s historical record shows that central bank independence is absent.” ~Nicolas Cachanosky
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Timiraos on Supply-Side Disinflation
“Slowing down total spending growth (current-dollar GDP) by hiking interest rates and shrinking the balance sheet clearly mattered. Supply-side improvements do too, but they’re likely playing the role of the sidekick rather than the hero.” ~Alexander W. Salter
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Black Friday 2023 Will Test Consumer Confidence
“Although Black Friday is a day of discounts, rebates, and other sales promotions, examining the price changes in the most-marketed merchandise categories may provide some insights as to what consumers face this year.” ~Peter C. Earle
-
•
Lessons from Argentina’s Dollarization Debate: The Challenge of the Commitment Device
“If a large country like Argentina were to fare better under dollarization, economists would be forced to reconsider the role of central banks in monetary theory.” ~Nicolas Cachanosky
-
•
The West Should Strengthen Ties with Argentina’s New President Javier Milei
Argentina just elected Javier Milei, a boisterous, wild-haired economist with a pro-market agenda to transform the nation’s economy. After decades of Peronist rule, Argentina is now home to the first libertarian head of state in modern history, a feat that many in the media seem to miss. Even before the official results were announced, voters…
-
•
Why Ordinary People Enable Totalitarians, Part 1
“After the First World War in Germany, peace came with hyperinflation, which obliterated all wealth. The bonds of civilization fray during hyperinflation.” ~Barry Brownstein
-
•
Argentina’s Rampant Inflation, Explained (in One Chart)
“Whichever definition one prefers to use — an expansion of the money supply which leads to price increases, or a broad and sustained increase in consumer prices — inflation is caused by the governments and central banks who control the money supply.” ~Jon Miltimore
-
•
Business Conditions Monthly October 2023
“While we continue to impartially and vigilantly assess incoming data, our current analysis still points to a recession occurring before September 2024 as the most probable scenario.” ~Peter C. Earle
-
•
Disinflation Dream Come True
“The Fed will probably keep the fed funds target range unchanged in December. Officials previously signaled additional tightening, but things have changed.” ~Alexander W. Salter
-
•
Argentina Agonistes: The Separation of Money and State
“The Argentine peso has lost 93 percent of its value in just the past 4 years. Anyone who could carry out transactions using dollars always did so; holding pesos was little different from simply setting your wealth on fire.” ~Michael Munger
-
•
Hyperinflation and Dollarization: A Path to Economic Stability for Argentina
“The risk of hyperinflation in Argentina does not arise from the intention to dollarize but from a central bank that appears incapable or unwilling to exercise restraint. Argentina’s historical record shows that central bank independence is absent.” ~Nicolas Cachanosky
-
•
Timiraos on Supply-Side Disinflation
“Slowing down total spending growth (current-dollar GDP) by hiking interest rates and shrinking the balance sheet clearly mattered. Supply-side improvements do too, but they’re likely playing the role of the sidekick rather than the hero.” ~Alexander W. Salter
-
•
Black Friday 2023 Will Test Consumer Confidence
“Although Black Friday is a day of discounts, rebates, and other sales promotions, examining the price changes in the most-marketed merchandise categories may provide some insights as to what consumers face this year.” ~Peter C. Earle